Foreign Currency Accounts

Conducting international transactions in U.S. dollars can limit your international market opportunities and may reduce profits when exchange rates are unfavorable.

Foreign Currency Accounts (FCAs) make it easier to expand your business outside the U.S. By establishing a separate account in the U.S. for each currency you use, you can optimize foreign cash flows and respond more effectively to changing market conditions.

FCAs enable you to:

Conduct transactions in most major currencies.

Consolidate and manage foreign receivables and payments more effectively.

Send and receive wires and receive and deposit foreign checks without immediate currency conversion to U.S. dollars.

Avoid language issues and investing extra time dealing with representatives in international banks.

View balances and activities for all currency accounts online.

View current exchange rates to enable transaction execution when rates are favorable, minimizing potential losses due to mistimed conversions to U.S. dollars.

Avoid the administrative burden of having to file a Report of Foreign Bank and Financial Accounts, since FCAs are domiciled in the U.S.

Our Foreign Exchange Specialists can provide full account setup, training and support and provide a wide range of currency-related services that can help you make the most of international opportunities.